CapMoore

Daily Study. ABCD Pattern Completion and targets in play

FX:USDCAD   U.S. Dollar / Canadian Dollar
Price has completed a full ABCD pattern from Sep 2012
and also a minor ABCD with 161 extended D-point. Since
the price has been attempting to reach targets. First target
was the full swing CD move of minor ABCD . The technical
target hasn't been reached yet (1,0790).
One scenario is more bullish . Since price completed the
large ABCD prematurely w a fast latter CD leg, there is some
chance for an ext D-point. Yet, w three failed attempts to breach
1,12 level finishing with a marked wash & rinse, chances are
that the minitarget of the large ABCD will be reached. Thus,
looking for weakness on this bounce around 1,1020/1,1085
levels is my main idea, aiming for 1,0580 (Technical minitarget of large
ABCD ) or 1,0650 (the full swing minitarget).
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